Wind power is a major source of electricity with nearly 550 GW of global installed capacity at the end of 2017. This is expected to increase to nearly 800 GW by 2021. However, operating wind power projects and wind farms continue to underperform on power output by 9% on average. This, coupled with much higher than expected unscheduled maintenance costs caused mostly by high component failure rate, is leading to lower revenue and higher operating expense. The industry is further challenged by reduction in incentives and subsidies as power prices continue to drop. Studies conducted by those in the wind power industry using measurement systems on wind turbines have shown that loads on wind turbines in some locations and under specific wind conditions may significantly exceed design loads for the wind turbines, thus leading to premature component failures.